lease or private hire

[cramorra]

Looking into a new car- you have basically three options
buy cash
lease
private hire

I get the first one
the second one is in essence a form of rent - you pay as you drive
the third one is a rent which gives you a purchase option at the end and a guaranteed value- why would somebody have option 2 instead?
Thanks- sorry I am sure this has been answered but I could not find links so if you know any please send

[cramorra]

thanks this is helpful